{"id":4479,"date":"2016-02-13T01:22:31","date_gmt":"2016-02-13T01:22:31","guid":{"rendered":"https:\/\/courses.candelalearning.com\/marketingxwaymakerxspring2016\/?post_type=chapter&#038;p=4479"},"modified":"2016-02-18T18:21:14","modified_gmt":"2016-02-18T18:21:14","slug":"outcome-pricing-considerations","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/clinton-marketing\/chapter\/outcome-pricing-considerations\/","title":{"raw":"Outcome: Pricing Considerations","rendered":"Outcome: Pricing Considerations"},"content":{"raw":"<h2>What you'll learn to do: explain the primary factors to consider in pricing<\/h2>\r\n<a href=\"https:\/\/courses.candelalearning.com\/waymakerintromarketing1xmaster\/wp-content\/uploads\/sites\/903\/2015\/12\/Mod-4-Marketing-Planning-graphic-2.png\" rel=\"attachment wp-att-2340\"><img class=\"alignright wp-image-2340\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images-archive-read-only\/wp-content\/uploads\/sites\/1505\/2016\/02\/04105942\/Mod-4-Marketing-Planning-graphic-2.png\" alt=\"The Market Planning Process: vertical Flowchart with 7 layers. From top, Layer 1 \u201cCorporate Mission\u201d points to Layer 2 \u201cSituational Analysis,\u201d points Layer 3 \u201cInternal Factors: Strengths &amp; Weaknesses\u201d and \u201cExternal Factors: Opportunities &amp; Threats,\u201d points to Layer 4 \u201cCorporate Strategy: Objectives &amp; Tactics.\u201d Layers 2-4 are connected with gray lines, as one sub-unit. This points to Layer 5 \u201cMarketing Strategy: Objectives &amp; Tactics,\u201d to Layer 6, a graphic showing \u201cTarget Market\u201d as the central piece of the 4 Ps surrounding it: Product, Price, Promotion, Place. The final layer is \u201cImplementation &amp; Evaluation.\u201d Layers 5-7 are connected with gray lines, as a second sub-unit.\" width=\"300\" height=\"442\" \/><\/a>Now that we've considered the customer perspective, we need to understand how pricing fits into the company strategy. It's important to remember that all elements\u00a0of the marketing mix, including pricing, fit into a larger customer mission and strategy.\r\n\r\nAn effective pricing strategy will align with the corporate mission, account for competitive factors, and support corporate strategies and objectives.\r\n\r\nThe specific things you\u2019ll learn in this section include:\r\n<ul>\r\n\t<li style=\"font-weight: 400;\">Explain company objectives in the pricing strategy<\/li>\r\n\t<li style=\"font-weight: 400;\">Define break-even pricing<\/li>\r\n\t<li style=\"font-weight: 400;\">Describe how competition affects\u00a0pricing strategies<\/li>\r\n\t<li style=\"font-weight: 400;\">Describe the benefit of value-based pricing for customers<\/li>\r\n<\/ul>\r\n<h3>Learning Activities<\/h3>\r\n<ul>\r\n\t<li>Reading: Pricing Objectives<\/li>\r\n\t<li>Reading: Break-Even Pricing<\/li>\r\n\t<li>Reading: Competitor Impact on Pricing<\/li>\r\n\t<li>Reading: Benefits of Value-Based Pricing<\/li>\r\n\t<li>Self Check:\u00a0Pricing Considerations<\/li>\r\n<\/ul>","rendered":"<h2>What you&#8217;ll learn to do: explain the primary factors to consider in pricing<\/h2>\n<p><a href=\"https:\/\/courses.candelalearning.com\/waymakerintromarketing1xmaster\/wp-content\/uploads\/sites\/903\/2015\/12\/Mod-4-Marketing-Planning-graphic-2.png\" rel=\"attachment wp-att-2340\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-2340\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images-archive-read-only\/wp-content\/uploads\/sites\/1505\/2016\/02\/04105942\/Mod-4-Marketing-Planning-graphic-2.png\" alt=\"The Market Planning Process: vertical Flowchart with 7 layers. From top, Layer 1 \u201cCorporate Mission\u201d points to Layer 2 \u201cSituational Analysis,\u201d points Layer 3 \u201cInternal Factors: Strengths &amp; Weaknesses\u201d and \u201cExternal Factors: Opportunities &amp; Threats,\u201d points to Layer 4 \u201cCorporate Strategy: Objectives &amp; Tactics.\u201d Layers 2-4 are connected with gray lines, as one sub-unit. This points to Layer 5 \u201cMarketing Strategy: Objectives &amp; Tactics,\u201d to Layer 6, a graphic showing \u201cTarget Market\u201d as the central piece of the 4 Ps surrounding it: Product, Price, Promotion, Place. The final layer is \u201cImplementation &amp; Evaluation.\u201d Layers 5-7 are connected with gray lines, as a second sub-unit.\" width=\"300\" height=\"442\" \/><\/a>Now that we&#8217;ve considered the customer perspective, we need to understand how pricing fits into the company strategy. It&#8217;s important to remember that all elements\u00a0of the marketing mix, including pricing, fit into a larger customer mission and strategy.<\/p>\n<p>An effective pricing strategy will align with the corporate mission, account for competitive factors, and support corporate strategies and objectives.<\/p>\n<p>The specific things you\u2019ll learn in this section include:<\/p>\n<ul>\n<li style=\"font-weight: 400;\">Explain company objectives in the pricing strategy<\/li>\n<li style=\"font-weight: 400;\">Define break-even pricing<\/li>\n<li style=\"font-weight: 400;\">Describe how competition affects\u00a0pricing strategies<\/li>\n<li style=\"font-weight: 400;\">Describe the benefit of value-based pricing for customers<\/li>\n<\/ul>\n<h3>Learning Activities<\/h3>\n<ul>\n<li>Reading: Pricing Objectives<\/li>\n<li>Reading: Break-Even Pricing<\/li>\n<li>Reading: Competitor Impact on Pricing<\/li>\n<li>Reading: Benefits of Value-Based Pricing<\/li>\n<li>Self Check:\u00a0Pricing Considerations<\/li>\n<\/ul>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-4479\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Outcome: Pricing Considerations. <strong>Provided by<\/strong>: Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":8,"menu_order":6,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"Outcome: Pricing Considerations\",\"author\":\"\",\"organization\":\"Lumen Learning\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"8c548845-ef1d-479a-bd6c-b58fef02c956","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-4479","chapter","type-chapter","status-publish","hentry"],"part":4467,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-marketing\/wp-json\/pressbooks\/v2\/chapters\/4479","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-marketing\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-marketing\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-marketing\/wp-json\/wp\/v2\/users\/8"}],"version-history":[{"count":2,"href":"https:\/\/courses.lumenlearning.com\/clinton-marketing\/wp-json\/pressbooks\/v2\/chapters\/4479\/revisions"}],"predecessor-version":[{"id":4927,"href":"https:\/\/courses.lumenlearning.com\/clinton-marketing\/wp-json\/pressbooks\/v2\/chapters\/4479\/revisions\/4927"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-marketing\/wp-json\/pressbooks\/v2\/parts\/4467"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-marketing\/wp-json\/pressbooks\/v2\/chapters\/4479\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-marketing\/wp-json\/wp\/v2\/media?parent=4479"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-marketing\/wp-json\/pressbooks\/v2\/chapter-type?post=4479"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-marketing\/wp-json\/wp\/v2\/contributor?post=4479"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-marketing\/wp-json\/wp\/v2\/license?post=4479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}